Regular 2.
Regular City Council Meeting
- Meeting Date:
- 06/26/2017
- TITLE
- Public Hearing and Resolution for FY17 Budget Amendments
- PRESENTED BY:
- Andy Zoeller
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
Montana Code allows local governments to amend their fiscal year budgets by using the same method as used for the original budget adoption: public notice, public hearing and Council adopting a resolution. The following amendments are proposed for FY 2017:
General Fund (Legal Department) - The Legal department is requesting additional budget authority to fund the cost of hiring outside counsel. Fund balance is available to fund the additional expenses.
Fund 2030 North 27th TIFD - The North 27th TIFD has awarded more project incentives than originally budgeted. These projects include a housing study with the EBURD, A new bakery, a clothing store, and others. There is available fund balance to cover these projects
General Fund (Legal Department) - The Legal department is requesting additional budget authority to fund the cost of hiring outside counsel. Fund balance is available to fund the additional expenses.
Fund 2030 North 27th TIFD - The North 27th TIFD has awarded more project incentives than originally budgeted. These projects include a housing study with the EBURD, A new bakery, a clothing store, and others. There is available fund balance to cover these projects
ALTERNATIVES ANALYZED
The Council may:
- Approve the requested budget amendments; or
- Not approve the requested budget amendments, which would put the City in violation of Montana law.
FINANCIAL IMPACT
The requested budget amendments will be funded by reserves, as described in the budget resolution exhibit and above.
RECOMMENDATION
Staff recommends that the City Council conduct a public hearing and approve the resolution approving and adopting the budget amendments for Fiscal Year 2017.